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Yen tumbles against dollar, euro in Asia

Source: Geo News | 29-11-2013

The yen slumped against the euro and dollar in Asia Friday as receding fears over eurozone deflation and buoyant sentiment steered investors into higher-yielding, riskier currencies.

The euro rose to a five-year high of 139.65 yen in Tokyo midday trade from 139.05 yen in New York Thursday afternoon. It was also at $1.3617 from $1.3601.The dollar bought 102.56 yen against 102.24 yen.

Investors tend to buy the yen in times of uncertainty and sell it when the outlook is rosier.

Analysts said attention was focused on European and Asian trading cues with US dealers off for the Thanksgiving holiday.

"European markets made some further gains on receding risks of European deflation and ahead of tonight’s eurozone flash inflation report for November," National Australia Bank said.

GM to invest $1.5B in North American factories

Source: Dawn News | 18-01-2013

General Motors says it will invest $1.5 billion in its North American factories this year. North American President Mark Reuss announced the figure in a speech Wednesday night but gave no details. The company says specific plants and job numbers will come later. GM is revamping 70 per cent of its US models as it switches from the oldest lineup ..... Read more

Dollar sags in Asia on Syrian tension

Source: Geo News | 27-08-2013

TOKYO: The dollar edged down against the safe-haven yen in Asia on Tuesday due to concerns over a possible US military action against Syria. The dollar was at 98.29 yen in Tokyo afternoon trade, down from 98.51 yen in New York Monday afternoon. The euro bought $1.3373 and 131.45 yen compared with $1.3369 and 131.68 yen. The greenback lost ground in t..... Read more

Govt unlikely to get $2.1b non-tax money

Source: The Nation | 16-01-2013

The financial maladies of the cash-starved government would multiply in the months to come due to unlikely foreign inflow of worth $2.1 billion under various heads, lower revenue collection and high power subsidy that would increase the budget deficit of the country, it was learnt on Tuesday. Sources said that budget deficit would go beyond the targ..... Read more

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